24 CFR § 1006.305

24 CFR · Housing and Urban Development

§ 1006.305 — Low-income requirement and income targeting.

24 CFR § 1006.305

TitleTitle 24: Housing and Urban Development PartPart 1006: Native Hawaiian Housing Block Grant Program

SourceeCFR (current through Apr 6, 2026)

This text of 24 C.F.R. § 1006.305 (Low-income requirement and income targeting.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

24 C.F.R. § 1006.305 (2026).

Text

§ 1006.305 Low-income requirement and income targeting.

(a)In general. Housing qualifies as affordable housing for purposes of the Act and this part, provided that the family occupying the unit is low-income at the following times:

(1)In the case of rental housing, at the time of the family's initial occupancy of such unit;

(2)In the case of housing for homeownership, at the time of purchase. When DHHL enters into a loan contract with the family for NHHBG assistance to purchase or construct a homeownership unit, the time of purchase means the time that loan contract is executed;

(3)In the case of owner-occupied housing units, at the time the family receives NHHBG assistance;

(4)In the case of a lease-purchase agreement for existing housing or for housing to be constructed, at the

Free access — add to your briefcase to read the full text and ask questions with AI

§ 1006.305 Low-income requirement and income targeting.

(a) In general. Housing qualifies as affordable housing for purposes of the Act and this part, provided that the family occupying the unit is low-income at the following times:

(1) In the case of rental housing, at the time of the family's initial occupancy of such unit;

(2) In the case of housing for homeownership, at the time of purchase. When DHHL enters into a loan contract with the family for NHHBG assistance to purchase or construct a homeownership unit, the time of purchase means the time that loan contract is executed;

(3) In the case of owner-occupied housing units, at the time the family receives NHHBG assistance;

(4) In the case of a lease-purchase agreement for existing housing or for housing to be constructed, at the time the lease-purchase agreement is signed; and

(5) In the case of emergency assistance to prevent homelessness or foreclosure, at the time the family receives NHHBG assistance.

(b) Affordability requirements. NHHBG-assisted rental and homeownership units must meet the affordability requirements for the remaining useful life of the property, as determined by HUD, or such other period as HUD determines in accordance with section 813(a)(2)(B) of the Act.

(c) Enforceable agreements. (1) The DHHL, through binding contractual agreements with owners or other authorized entities, shall ensure long-term compliance with the provisions of this part.

(2) The agreements referred to in paragraph (c)(1) of this section shall provide for:

(i) To the extent allowable by Federal and State law, the enforcement of the provisions of the Act and this part by the DHHL and HUD; and

(ii) Remedies for breach of the provisions of the Act and this part.

(d) Exception. Notwithstanding the requirements of this section, housing assisted with NHHBG funds pursuant to § 1006.301(b) shall be considered affordable housing for purposes of the Act and this part.

[67 FR 40776, June 13, 2002, as amended at 89 FR 9762, Feb. 12, 2024]